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Prudential Bancorp in Philadelphia has agreed to buy Polonia Bancorp in Huntingdon Valley, Pa. The $538 million-asset Prudential said in a press release Thursday that it will pay $38.1 million in cash and stock for the $312 million-asset Polonia. The deal is expected to close in the fourth quarter. Prudential said it expects "modest" tangible book value dilution that it should earn back in a year. MORE
saw success in the first quarter and how The Pennsylvania Real Estate Investment Trust slipped slightly short of estimates. The Pennsylvania Real Estate Investment Trust (PREIT) narrowly missed first-quarter earnings expectations, reporting earnings per share of $0.29 Retail earnings factory outlet malls News Pennsylvania Real Estate Investment Trust QSRs shopping shopping centers stocks store closures Tanger Factory Outlet Centers What's Hot Yum! MORE
DNB Financial in Downington, Pa., has agreed to buy East River Bank of Philadelphia. breaking_news community-banking pa m-a dealmaking-strategy MORE
Prudential Bancorp in Philadelphia has a new chief executive. breaking_news people pa community-banking MORE
Northwest Bancshares in Warren, Pa., has agreed to buy Winans Insurance & Employee Benefits in Warren. breaking_news community-banking pa dealmaking-strategy MORE
Court of Appeals for the Third Circuit in the Pennsylvania Attorney General’s lawsuit against Navient Corp. The CFPB filed its lawsuit against Navient in January 2017 in the federal District Court for the Middle District of Pennsylvania. MORE
At least three community banks have hired lenders who once worked at banks bought by BB&T. The question is whether those lenders can coax their clients to also make a switch. recruitment m-a dealmaking-strategy pa consolidation small-business commercial-lending community-banking MORE
(The Paypers) Pennsylvania Banking and Securities Department has revealed an update on Consumer Financial Protection Initiative MORE
NexTier Bank in Butler, Pa., has tapped its chief operating officer as its next leader. people breaking_news pa succession-planning community-banking MORE
The $1.2 billion-asset NexTier said in a press release Wednesday that it will pay $2.3 million, or $531.55 a share, in cash for the $40 million-asset Manor. breaking_news community-banking pa dealmaking-strategy MORE
Community banking Succession planning Growth strategies PennsylvaniaPatrick O'Brien had been CF Financial's president and CEO for about two years. MORE
Community banking M&A Growth strategies PennsylvaniaThe company, which recently bought Monument Bank, has agreed to acquire Covenant Financial. MORE
The Pennsylvania company will pay $80 million for the parent of USNY Bank. Community banking M&A Capital Growth strategies Pennsylvania New York MORE
Consumer lending Massachusetts California Coronavirus Loan modifications Pennsylvania Law and regulation MORE
Pennsylvania has one of the most active Attorney General offices when it comes to bringing cases against financial companies. MORE
Community banking M&A Capital Growth strategies PennsylvaniaThe company will gain branches in Northampton County as part of the $79 million deal. MORE
As part of an investigation launched earlier this year into allegations of redlining in the Philadelphia area, the Pennsylvania Attorney General Josh Shapiro recently called on mortgage borrowers and home loan applicants in the Philadelphia area to file complaints with his office “if they believe they may have been victims of redlining or experienced irregularities when looking for a mortgage or home loan.”. MORE
In this week’s episode, Pennsylvania Secretary of Banking and Securities Robin Wiessmann discusses lessons learned from the 2009 financial crisis and concerns arising from today’s market conditions and regulatory environment, shares her views on the OCC’s fintech charter and provides an update on steps that States are taking to relieve regulatory burdens on fintech companies, and explains her agency’s approach to virtual currency. MORE
The Pennsylvania company will pay $65 million for six branches that will join its Buffalo, N.Y., Community banking M&A Growth strategies Pennsylvania New Yorkdivision. MORE
ISO and agent B-to-B payments Payment processing Compliance reviews PennsylvaniaIt is important that all parties involved in construction projects not only be aware of these regulation updates and how they will impact their projects, but also what they can do to prepare for when the legislation inevitably reaches them, writes Matt Johner, president and co-founder of BankLabs. MORE
Nicholas Smyth, Assistant Director of the Pennsylvania Attorney General’s Bureau of Consumer Protection, was our guest speaker for a webinar yesterday. CFPB Enforcement CFPB Monitor State CFS Monitor State Enforcement CFPB pennsylvania attorney general smyth MORE
With the creation of a Consumer Financial Protection Unit as one of his early actions, Pennsylvania Attorney General Josh Shapiro made clear his intention to pursue an aggressive pro-consumer agenda. The Widener Law Commonwealth Law and Government Institute and the Business Advising Program recently announced that Mr. Smyth will be giving a lecture on March 19, 2019 in Harrisburg, PA at a program titled “Consumer Financial Protection in Pennsylvania: Student Borrowers and Beyond.” MORE
Retailers Compliance Digital payments Cash New Jersey PennsylvaniaThe pushback on stores that don’t accept cash seems to be gaining momentum, with Philadelphia the latest municipality to consider a law that would ban cash-free shops. MORE
Community banking Credit quality Commercial lending PennsylvaniaA large charge-off and an additional loan-loss provision reduced quarterly profit by 12%, to $47.8 million. MORE
The Pennsylvania company said it faces $7.5 Fraud Earnings Community banking Credit quality Pennsylvaniamillion in potential exposure from a commercial lending relationship. MORE
Glenn Moyer, the former Secretary of the Pennsylvania Department of Banking and Securities (pictured), spoke at a banking industry event this past week. MORE
At a time when the IRS is trying to find out the identities behind bitcoin users, the Pennsylvania Allegheny County District Attorney’s office revealed it had to use bitcoin to pay a ransom to get its data back. The Forbes report noted that the data attack on the District Attorney’s office in Pennsylvania could be payback for the IRS’ actions. MORE
A court decision brings much needed clarity to the complex world of money transmitter licensing by holding that the transmission of information alone is not engaging in the business of money transmission under Pennsylvania law, writes Anita Boomstein, a partner with Manatt, Phelps & Phillips, LLP. MORE
Tech Center Amazon Andy Warhol big mac carnegie mellon university entrepreneurs Facebook fundraising Google IAM Robotics Innovation Innovation Works Investment McDonald's Midwest Mr. Rogers News Pennsylvania Pittsburgh series A funding tech hub Tom GalluzzoPittsburgh has contributed a plethora of everyday items and services that many may take for granted. MORE
And so it went in Hallstead, growing gradually, as towns tended to do in rural Pennsylvania, with bank loans funded by local depositors supporting the growth. Community banks tout themselves as better than national and regional banks because of how close they are to their communities. MORE
A small credit union in western Pennsylvania is making an investment that would strike fear into the hearts to bankers everywhere: core replacement. MORE
Mid Penn, First Priority Financial to merge in $82 million deal Management CSuite Community Banking M&A. 1Management MORE
Economy Growth strategies Community banks Rhode Island California Pennsylvania MORE
Community banking Succession planning CECL PennsylvaniaThe company, which just hired CEO Jay Sidhu's son to groom as its next chief, had been holding itself back to avoid caps on interchange fees. MORE
Digital payments Contactless payments Credit cards Mobile payments Pennsylvania New Jersey CaliforniaState and local officials have pushed back against retailers that don’t take cash, and now some are pressuring electric vehicle firms to expand payment options at charging stations. MORE
The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. Findings regarding complaints from Pennsylvania consumers include the following: As of September 1, 2016, approximately 34,700 complaints were submitted by Pennsylvania consumers of which approximately 69 percent (about 24,100) were from Philadelphia consumers. Barbara S. Mishkin. MORE
Pennsylvania Related Topics Payments Source
JUNE 27, 2019
A court decision brings much needed clarity to the complex world of money transmitter licensing by holding that the transmission of information alone is not engaging in the business of money transmission under Pennsylvania law, writes Anita Boomstein, a partner with Manatt, Phelps & Phillips, LLP.
American Banker
JANUARY 9, 2020
Community banking Succession planning Growth strategies PennsylvaniaPatrick O'Brien had been CF Financial's president and CEO for about two years.
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American Banker
DECEMBER 18, 2019
Community banking M&A Growth strategies PennsylvaniaThe company, which recently bought Monument Bank, has agreed to acquire Covenant Financial.
American Banker
DECEMBER 10, 2019
Community banking M&A Capital Growth strategies PennsylvaniaThe company will gain branches in Northampton County as part of the $79 million deal.
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Payments Source
OCTOBER 29, 2018
ISO and agent B-to-B payments Payment processing Compliance reviews PennsylvaniaIt is important that all parties involved in construction projects not only be aware of these regulation updates and how they will impact their projects, but also what they can do to prepare for when the legislation inevitably reaches them, writes Matt Johner, president and co-founder of BankLabs.
PYMNTS
DECEMBER 9, 2016
At a time when the IRS is trying to find out the identities behind bitcoin users, the Pennsylvania Allegheny County District Attorney’s office revealed it had to use bitcoin to pay a ransom to get its data back. The Forbes report noted that the data attack on the District Attorney’s office in Pennsylvania could be payback for the IRS’ actions.
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ABA Community Banking
JANUARY 24, 2018
Mid Penn, First Priority Financial to merge in $82 million deal Management CSuite Community Banking M&A. 1Management
American Banker
AUGUST 8, 2016
NexTier Bank in Butler, Pa., has tapped its chief operating officer as its next leader. people breaking_news pa succession-planning community-banking
CFPB Monitor
OCTOBER 31, 2018
As part of an investigation launched earlier this year into allegations of redlining in the Philadelphia area, the Pennsylvania Attorney General Josh Shapiro recently called on mortgage borrowers and home loan applicants in the Philadelphia area to file complaints with his office “if they believe they may have been victims of redlining or experienced irregularities when looking for a mortgage or home loan.”.
CFPB Monitor
AUGUST 21, 2019
Pennsylvania has one of the most active Attorney General offices when it comes to bringing cases against financial companies.
Jeff For Banks
OCTOBER 3, 2015
Glenn Moyer, the former Secretary of the Pennsylvania Department of Banking and Securities (pictured), spoke at a banking industry event this past week.
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CFPB Monitor
SEPTEMBER 28, 2016
The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. Findings regarding complaints from Pennsylvania consumers include the following: As of September 1, 2016, approximately 34,700 complaints were submitted by Pennsylvania consumers of which approximately 69 percent (about 24,100) were from Philadelphia consumers. Barbara S. Mishkin.
American Banker
JANUARY 9, 2020
The Pennsylvania company will pay $80 million for the parent of USNY Bank. Community banking M&A Capital Growth strategies Pennsylvania New York
American Banker
MAY 31, 2016
At least three community banks have hired lenders who once worked at banks bought by BB&T. The question is whether those lenders can coax their clients to also make a switch. recruitment m-a dealmaking-strategy pa consolidation small-business commercial-lending community-banking
American Banker
DECEMBER 18, 2019
The Pennsylvania company will pay $65 million for six branches that will join its Buffalo, N.Y., Community banking M&A Growth strategies Pennsylvania New Yorkdivision.
American Banker
APRIL 14, 2020
The Pennsylvania company said it faces $7.5 Fraud Earnings Community banking Credit quality Pennsylvaniamillion in potential exposure from a commercial lending relationship.
American Banker
DECEMBER 7, 2016
The $1.2 billion-asset NexTier said in a press release Wednesday that it will pay $2.3 million, or $531.55 a share, in cash for the $40 million-asset Manor. breaking_news community-banking pa dealmaking-strategy
American Banker
APRIL 12, 2020
Consumer lending Massachusetts California Coronavirus Loan modifications Pennsylvania Law and regulation
American Banker
JUNE 2, 2016
Prudential Bancorp in Philadelphia has agreed to buy Polonia Bancorp in Huntingdon Valley, Pa. The $538 million-asset Prudential said in a press release Thursday that it will pay $38.1 million in cash and stock for the $312 million-asset Polonia. The deal is expected to close in the fourth quarter. Prudential said it expects "modest" tangible book value dilution that it should earn back in a year.
American Banker
MAY 4, 2016
Prudential Bancorp in Philadelphia has a new chief executive. breaking_news people pa community-banking
Payments Source
FEBRUARY 5, 2019
Retailers Compliance Digital payments Cash New Jersey PennsylvaniaThe pushback on stores that don’t accept cash seems to be gaining momentum, with Philadelphia the latest municipality to consider a law that would ban cash-free shops.
American Banker
OCTOBER 17, 2016
Northwest Bancshares in Warren, Pa., has agreed to buy Winans Insurance & Employee Benefits in Warren. breaking_news community-banking pa dealmaking-strategy
Payments Source
JUNE 14, 2019
Digital payments Contactless payments Credit cards Mobile payments Pennsylvania New Jersey CaliforniaState and local officials have pushed back against retailers that don’t take cash, and now some are pressuring electric vehicle firms to expand payment options at charging stations.
Jeff For Banks
APRIL 4, 2010
And so it went in Hallstead, growing gradually, as towns tended to do in rural Pennsylvania, with bank loans funded by local depositors supporting the growth. Community banks tout themselves as better than national and regional banks because of how close they are to their communities.
American Banker
JANUARY 23, 2020
Community banking Succession planning CECL PennsylvaniaThe company, which just hired CEO Jay Sidhu's son to groom as its next chief, had been holding itself back to avoid caps on interchange fees.
American Banker
JANUARY 6, 2020
Economy Growth strategies Community banks Rhode Island California Pennsylvania
American Banker
FEBRUARY 14, 2020
Community banking Credit quality Commercial lending PennsylvaniaA large charge-off and an additional loan-loss provision reduced quarterly profit by 12%, to $47.8 million.
American Banker
APRIL 5, 2016
DNB Financial in Downington, Pa., has agreed to buy East River Bank of Philadelphia. breaking_news community-banking pa m-a dealmaking-strategy
CFPB Monitor
SEPTEMBER 5, 2019
Court of Appeals for the Third Circuit in the Pennsylvania Attorney General’s lawsuit against Navient Corp. The CFPB filed its lawsuit against Navient in January 2017 in the federal District Court for the Middle District of Pennsylvania.
The Paypers
APRIL 1, 2016
(The Paypers) Pennsylvania Banking and Securities Department has revealed an update on Consumer Financial Protection Initiative
CFPB Monitor
SEPTEMBER 5, 2019
Nicholas Smyth, Assistant Director of the Pennsylvania Attorney General’s Bureau of Consumer Protection, was our guest speaker for a webinar yesterday. CFPB Enforcement CFPB Monitor State CFS Monitor State Enforcement CFPB pennsylvania attorney general smyth
CFPB Monitor
FEBRUARY 11, 2019
With the creation of a Consumer Financial Protection Unit as one of his early actions, Pennsylvania Attorney General Josh Shapiro made clear his intention to pursue an aggressive pro-consumer agenda. The Widener Law Commonwealth Law and Government Institute and the Business Advising Program recently announced that Mr. Smyth will be giving a lecture on March 19, 2019 in Harrisburg, PA at a program titled “Consumer Financial Protection in Pennsylvania: Student Borrowers and Beyond.”
PYMNTS
AUGUST 8, 2017
Tech Center Amazon Andy Warhol big mac carnegie mellon university entrepreneurs Facebook fundraising Google IAM Robotics Innovation Innovation Works Investment McDonald's Midwest Mr. Rogers News Pennsylvania Pittsburgh series A funding tech hub Tom GalluzzoPittsburgh has contributed a plethora of everyday items and services that many may take for granted.
PYMNTS
MAY 3, 2018
saw success in the first quarter and how The Pennsylvania Real Estate Investment Trust slipped slightly short of estimates. The Pennsylvania Real Estate Investment Trust (PREIT) narrowly missed first-quarter earnings expectations, reporting earnings per share of $0.29 Retail earnings factory outlet malls News Pennsylvania Real Estate Investment Trust QSRs shopping shopping centers stocks store closures Tanger Factory Outlet Centers What's Hot Yum!
Bank Innovation
DECEMBER 2, 2016
A small credit union in western Pennsylvania is making an investment that would strike fear into the hearts to bankers everywhere: core replacement.
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